How to deal with oddball transaction in a retirement account.
Hi. One of my retirement accounts was recently bought and sold by a new company. I set up online banking for the new company and it works. But they did a weird thing. In the account they have two transactions where they "sold" and "bought" all of the shares in that account on the same day (no per share price noted). I think it's some kind of internal quirk. But, Moneydance (via plaid) registers it as a single "BuyXfr" for all of my shares.
I'd prefer to just delete it, but if I do that it just redownloads again. Any ideas on how to encode this to be compatible with the download but have zero effect on the account?
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1 Posted by dtd on 05 Jun, 2023 09:46 PM
just a user - yes, it would download it again if you delete it. Maybe just change the shares bought or value to zero? (whatever works) - then the transaction is still there, and "sort of" represents the two at the website, but has no impact. [And it still has the hidden FITID in place, so won't redownload.]
One comment that you didn't address - how did you get the cost basis to move over, or did you just use the same account as before, but connect the new company to it? That is often the cause of "two transactions" - to move the shares at the cost basis price - sort of an artificial way to do so, but it works.
2 Posted by oberman on 06 Jun, 2023 01:39 PM
Ok, I zeroed out all fields and that works.
More details: this was the TD Ameritrade being bought out by Schwab. I didn't actually create a new MD account, I just unlinked and relinked the account and it seems to just work. Other than the new "no change" transaction that appeared that I wasn't sure how to deal with. The overall account status looks ok now, and all of the graphs still look correct.
Thanks!
3 Posted by dtd on 07 Jun, 2023 01:30 AM
Yes, that would work to maintain cost basis. Sounds good!
4 Posted by dwg on 07 Jun, 2023 03:00 AM
The bought and sold transactions probably didn't have any significance for you, I envisage they were back to back transactions to enact the change of funds ownership not the ultimate beneficiary, so they are more book entries.
Zeroing amounts is likely the best approach to take given how transaction IDs work those IDs need to be present to stop re-downloading transactions.
Maddy closed this discussion on 22 Jun, 2023 11:52 AM.